The Architect & Engineering Insurance Leader

How Much Is Business Insurance
for Architects?

What do Gehry, Calatrava, and Pelli all have in common? Answer: They've all been sued. Planning an architectural project involves great risks, which is part of the reason lawsuits are so common among architects. You absorb tremendous financial risk when you oversee the construction, rehabilitation, or design of a building.

To win a bid or sign a contract with a new client, you'll often need architect insurance, which reassures clients you'll be able to cover your liabilities. Let's look at some sample insurance quotes.

What Does General Liability Insurance Cost?

Third parties like clients, vendors, and subcontractors can all sue your business over injuries, property damage, and reputational damages. Fortunately, General Liability Insurance covers the cost of these lawsuits. If a client is injured walking through a construction site, they could sue you. Courtrooms will hold you liable for creating a dangerous environment. Even if you don't directly cause an injury and someone is injured at your site, office space, or other location, you can be sued.

What Does a Business Owner's Policy Cost?

Architects can save money on insurance by purchasing a two-policy package called a Business Owner's Policy. BOPs are designed for small businesses, offering them a discounted rate when they buy General Liability and Commercial Property together.

A Business Owner's Policy typically costs $500 for an architect.

Average Premiums, Deductibles and Limits on Business Owner's Policies for Architects

Name

USD

Median policy premium:

$500

Per claim limit:

$1 million

Policy limit:

$2 million

Median policy deductible:

$500

HOW MUCH IS
Professional Liability Insurance?

How Much Is Professional Liability / Errors & Omissions Insurance?

Missed deadlines, busted budgets, contractor disputes, miscommunications with clients — these are a few of the many things that can go wrong during an architectural project. If one of these issues leads to a lawsuit, Errors and Omissions Insurance (also called Professional Liability Insurance) covers your legal fees, settlements, and damages you could owe.

How Much Is Commercial Auto Insurance?

To protect your business from the cost of an auto accident, architects can get Commercial Auto Insurance. Remember: personal auto insurance usually doesn't cover your work-related driving. If an employee is driving from your office to a jobsite and gets in an accident, they would need Commercial Auto Insurance to cover their liability and pay for repairs.

Average Premiums, Deductibles and Limits on Commercial Auto Insurance Policies for Architects

Name

USD

Median policy premium:

$1,213 - $1,405

Median policy limit:

$1 million

Median policy deductible:

$500

HOW MUCH IS
Umbrella Insurance?

What Does Umbrella Insurance Cost?

By getting Umbrella Insurance, architects can add $1 million in lawsuit coverage they can spend on General Liability, Hired and Non-Owned Auto Liability, and Employer's Liability, which is a specific part of a Workers' Compensation policy that pays for legal costs if an employee sues over an injury. Not all WC policies have this coverage, and Umbrella Insurance cannot boost the primary Workman's Comp coverage.

Umbrella Insurance typically costs $404 to $440 for architects.

Average Premiums, Deductibles and Limits on Umbrella Insurance Policies for Architects

How Much Is Workers' Compensation?

Architecture firms usually need Workers' Compensation Insurance in order to fulfill their state-mandated requirements. This insurance covers employee medical expenses, lost wages, and rehabilitation costs after a work-related injury.

Worker's Comp for architects usually costs $551 to $1,072.

Average Premiums, Deductibles and Limits on Workers' Compensation Insurance Policies for Architects